Conditions for availment of ITC

[OmPrakash jain]

By prescribing the phrase "within such time" retrospectively, in section 140, CGST Act, the Govt. has legalised the time frame prescribed under rule 117, CGST Rules for lapsing CENVAT/ITC Credit carry forwad by a taxable persons under GST regime and nullified various judicial decisions decided in favour of taxable persons.

In my view, such type of retrospective amendment in section 140, CGST Act is  against property right under Art. 300A, Constitution of India. 

 

CA Om Prakash Jain

Jaipur